Credit Union Ads Turn Aggressive

NEWPORT NEWS — Water trembles in a glass of water. The footfalls of a colossal animal boom as people nervously listen. A caption appears: "Dinosaurs still exist. We call them banks."

One of several TV spots planned by 1st Advantage Federal Credit Union in Newport News, the ad will air in the first part of next year. 1st Advantage is planning to run 10-, 20-, 30-, and 60-second spots that take on banks, said Paul Lucas, head of marketing.

The ads are distinct from a national ad campaign starting today, but both are rooted in the same thing - banks' legal challenge to credit unions' growth, Lucas said.

1st Advantage actively advertises. At one point it even hired "shock jock" Howard Stern to do a spot on the radio. Its ads are plastered on buses and billboards.

Other Hampton Roads credit unions more cautiously promote their financial services. Langley Federal Credit Union, for example, has limited its TV advertising to spots related to community events.

Meanwhile, 1st Advantage has sharply increased its ad budget in recent years. The credit union's total ad spending was about $150,000 in 1995. That figure jumped to $351,000 in 1996 - much of the increase paid for promotions tied to a name change. The figure this year is likely to stay up around $350,000, and it will probably top that next year, Lucas said.

"Banks are going to be relentless in their attack," Lucas said. "That is why I think we should be relentless with our comparative advertising."

Lucas credits 1st Advantage's aggressive advertising for its 21 percent growth in membership over the past two years.